India-US trade talks postponed, 25% additional penalty on India likely from August 27: Report
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
US stance on additional tariffs remains unchanged as no peace deal has yet been struck between the US, Russia, and Ukraine.
The ongoing geopolitical situation continues to shape Washington’s trade policy decisions
India’s sixth round of trade negotiations with the United States, scheduled for August 25, has been postponed and will be rescheduled, sources told CNBC-TV18.
According to CNBC-TV18, Washington is set to impose an additional 25 percent tariff on Indian goods from August 27 under an executive order. If enforced, this would double the penalty on India to 50 percent in total.
Sources further told CNBC-TV18 that the US stance on additional tariffs remains unchanged as no peace deal has yet been struck between the US, Russia, and Ukraine. The ongoing geopolitical situation continues to shape Washington’s trade policy decisions, they added.
Negotiations are still underway to explore whether the 25 percent penalty can be set aside, CNBC-TV18 reported. Indian and US officials are also continuing discussions on a broader Bilateral Trade Agreement (BTA), which remains on the table despite the tariff tensions.
Meanwhile, CNBC-TV18 also reported that following the recent Alaska summit, US statements suggested Washington may consider deferring secondary sanctions. However, there has been no reversal of its decision to go ahead with the additional penalty tariffs on India.
Reference Link:- https://www.moneycontrol.com/news/business/trade/india-us-trade-talks-postponed-25-additional-penalty-on-india-likely-from-august-27-report-13460581.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
